ORBMINCO LIMITED — Capital/Financing Update 2009

Oct 27, 2009

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28 OCTOBER 2009 ASX ANNOUNCEMENT

KYRGYZ PROJECT SOLD TO GATE BRIDGE COMPANY LIMITED; MONARO TO RETAIN 25% FREE CARRIED INTEREST

HIGHLIGHTS

• Monaro sells Kyrgyz project and retains 25% free carried interest

• Investor is Hong Kong-based Gate Bridge Company Limited

• Investor is obliged to generate Pre-Feasibility study within 5 years

Monaro Mining NL (the “Company” or “Monaro”) is pleased to advise that it has sold a 75% interest in the Kyrgyz Project to Gate Bridge Company Limited (“GBC”), a Hong Kong based company. Under the terms of a Heads of Agreement, the Company will retain a free-carried 25% interest in the project until such time as GBC generates a Pre-Feasibility study on any one of the licence areas covered by the agreement.

The agreement is subject to the completion of due diligence investigations by GBC, which it expects to complete in the following weeks. Upon execution of a share sale agreement, GBC will sole-fund all exploration and administrative costs associated with the project.

GBC is a Hong Kong based Company owned by a consortium of Hong Kong and Chinese investors and was formed by Mr Geoff Hill, Chairman of International Pacific Securities.

Geoff Hill is a merchant banker based in Hong Kong and is currently Chairman of Pitt Capital Asia Limited. He has more than 30 years experience in the Merchant Banking industry and is a director of Hills Industries Limited, Huntley Investment Company Limited, Undercover Wear Limited, International Pacific Securities Limited, SoCo Limited, Metals Finance Limited and Heritage Gold NZ Limited.

GBC proposes to focus on the development of uranium resources in Asia and elsewhere with a view to meeting future Chinese demand.

“We are extremely pleased with this agreement and the involvement of Geoff Hill in the project,” Monaro Chairman, Jim Malone, said.

“Geoff is a highly regarded business identity in the resources sector and his exposure to China and Asia bodes extremely well for the Kyrgyz Project.

At the same time it allows Monaro to continue down its path of consolidation and focus on its key uranium assets located in the USA.

We welcome Geoff as a partner in the development of the Kyrgyz assets.”

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FURTHER INFORMATION

For further information please contact Jim Malone, Chairman on +61 4 19537714 or Mart Rampe, Executive Director, on +61 2 4647 9566.

Media Enquiries: Fortbridge – Bill Kemmery on +61 2 9331 0655.

ABOUT MONARO MINING NL – “BUILDING A SERIOUS URANIUM COMPANY”

Monaro Mining NL is an Australian-based international exploration and pre-development company focusing on uranium. Its major assets include tenements in the USA, the Kyrgyz Republic and Australia. Monaro’s objective is to be a producer in the medium term through the development of its advanced projects in the USA. Monaro shares are listed on the Australian Securities Exchange and the Frankfurt Stock Exchange and Monaro ADRs are eligible for OTC trading in the USA.

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